Bitcoin falls after US inflation report matches forecasts
Bitcoin slipped to about $63,500 after an in-line US inflation report eased nerves but failed to spark a broad crypto rally.
The report showed July inflation rose 0.1% on the month and 3.4% on the year, matching forecasts and reinforcing expectations that the Federal Reserve can wait on further rate moves.
Global stock markets reacted more positively than crypto, with Asia’s MSCI index and Korea’s Kospi advancing sharply. Other digital assets also declined, with Dogecoin dropping almost 3% to $0.07 and XRP over 1% to $1.